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| Global India Geriatric Care Services Market Size |
Geriatric care services provide medical and social services to senior citizens
and elderly population who need assistance with daily activities or who have
physical or mental disabilities. These services help enhance the quality of
life of the elderly by offering services such as assisted living facilities,
home care, adult day care and nursing homes.
The global
India Geriatric Care Services Market is estimated to be valued at US$ 29.42 Bn in 2023 and is expected to
exhibit a CAGR of 7% over the forecast period 2023 to 2030, as highlighted in a
new report published by Coherent Market Insights.
Market key trends:
The demand for quality elderly care is accelerating the growth of the India
geriatric care services market. With increasing elderly population who require
supervised care and medical attention, there is huge demand for assisted living
facilities, home care services and nursing homes that can offer quality care.
It is estimated that over 20% of the Indian population will be over 60 years of
age by 2050. This substantial geriatric population base is investing more on
quality healthcare and wants access to facilities like day care, nursing homes
etc. that can help improve quality of their lives in old age. To tap into this
demand, key players in the market are focusing on expanding service offerings,
improving infrastructure and hiring qualified professionals which is propelling
the market growth over the forecast period.
Segment
Analysis
The India geriatric care services market can be segmented based on services
provided, which includes home-based care, community-based care, and
institutional care. The home-based care segment is expected to dominate the
market owing to increasing preference for home care services over institutional
care as it provides comfort of staying with family and known environment.
Key Takeaways
The Global
India Geriatric Care Services Market Size is expected to witness high
growth. The increasing elderly population, rising incidence of chronic
diseases, and growing preference for home care are some of the major factors
driving the market. The global India Geriatric Care Services Market is
estimated to be valued at US$ 29.42 Bn
in 2023 and is expected to exhibit a CAGR of 7% over the forecast period 2023
to 2030.
Regional analysis
The northern region dominates the India geriatric care services market, with
states like Delhi NCR, Haryana, and Uttar Pradesh accounting for a majority
share. Factors such as increasing geriatric population, availability of several
service providers, and growth of nuclear families have boosted the demand for
geriatric care services in this region.
Key players
Key players operating in the India geriatric care services market are Emoha
Elder Care, AntaraSeniorCare, Nisarg Care, Tata Trust, Ashiana Housing Ltd.,
Heritage Eldercare Services Pvt. Ltd., ASLI (Association of Senior Living
India), Nema Care, Age Ventures India, Piramal Swasthya, Jeevan Suraksha, and
Kriti Elder Care. Emoha Elder Care dominates the home-based care segment owing
to its extensive service coverage in major cities.
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